1872 May 17 Letter to Alex McKenzie

Title

1872 May 17 Letter to Alex McKenzie

Description

The Utah Central Railroad company is in good condition but has declared only one dividend due to recent expenditures and lack of available funds. The stock is a safe, steadily rising investment. David inquires about possible family connections.

Type

Correspondence

Sender

David McKenzie

Recipient

Alex McKenzie

Date

1872 May 17

Location

Greene Street, New York
Salt Lake City, Utah

Salt Lake City, U.T.
May 17. 1872.

Alex. McKenzie, Esqr.
35, West fourth, corner Greene St. N.Y.

Dear Sir; Yours to Prest. Young concerning Utah Central railroad Stock was received during his absence. I have placed your letter in the hands of Mr. George Swan the company's Secy and he will, doubtless, comply with your request. I will state, however, what I know in the premises. The affairs of that Co. are considered as in a prosperous condition. A large amount has been expended the past year in making improvements, building Stations & Machine shops, purchasing machinery &c. and there has been but one dividend declared as yet viz: Oct. 14/71. of 3 per. cent. on the entire stock of 15000 shares. At a Directors' meeting held three weeks ago, it was proposed by one of them to declare a dividend, but this was declared impracticable as there were no funds on hand. The stock is rising, however, slowly but steadily, and I think it a very safe investment.

As I have an uncle somewhere in the United States, and I am desirous of tracing my connections; will you have the kindness to write me whether your father was a native of Cromarty, in Rossshire, or vicinity? I was born in Edinburgh, Scotland, & my father, whose name was David was born in Cromarty.

Please answer and oblige
Yours with respect.
D. McKenzie

P.S. In return I will cheerfully answer any questions as to the U.C. railroad or on any other subject pertaining to Utah within my knowledge or ability, if you desire it.
D. McK.